TFX Biz-Flow Comprehensive Guide
  • Quick Start
    • Sell Module Guide
      • Introduction
      • Navigating the Sell Module
        • Dashboard
          • Features
            • Access to Critical Data
            • Interactive Reporting
            • Actionable Insights
        • Product Management
          • Overview
          • Adding a New Product & Services
          • Adding Products/Services via CSV
        • Price List Management
          • Overview
          • Setting Up & Updating Prices
        • Customers Management
          • Overview
          • Adding New Customers
          • Customer Information Management
        • Invoice Management
          • Overview
          • Invoice Creation
          • Editing and Deleting Invoices
      • Compliance with LHDN's E-Invoice Enforcement
    • Buy Module Guide
      • Introduction
      • Navigating the Buy Module
        • Dashboard
          • Features
            • Access to Critical Data
            • Interactive Reporting
            • Actionable Insights
              • Purchases with PO
              • Purchases Without PO
              • Detailed Procurement Tracking
        • Purchase Requisition
          • Overview
          • Step-by-Step Guide to Creating a Purchase Requisition
        • Initiating Quotation/Tender Process
        • Vendor Evaluation
        • Selecting a Vendor
        • Supplier Invoices and Goods Receipt
          • Goods Received Note
        • 3-Way Matching Process
        • Handling Discrepancies in Procurement
        • Inventory and Asset Management
        • Additional Procurement Scenarios
        • Conclusion
    • Pay Module
    • Accounting Module
      • Right of Use (ROU) Asset
      • General Ledger
      • Direct Costs
      • Viewing General Ledger Accounts
      • Subsidiary Ledgers
      • About Debit Note
      • Real-Time Financial Statements
    • Manage Module
      • Inventory Module
        • Inventory Management
        • Our Inventory Management Application
        • Product & Material Inventory Ledger
        • Transfers
        • Issues To Production
        • Adjustments
        • Importance of Stock Count
        • Valuation of Inventory
      • Asset Register Module
        • Non-Current Asset Register
        • Fixed Asset Register
        • Depreciation Methods
        • Disposal/Write Off of Fixed Assets
        • Asset Impairment
        • Maintenance History
      • Project Accounting Module
        • Contract/Project Accounting Module
          • Project Accounting
          • Contract Accounting Ledgers
          • Invoicing
      • Data Migration Module
        • Migration at the end of a Financial Period
        • Migration Process for Trade Receivable and Payable
        • Migration of Fixed Assets
        • Migration of Inventories
        • Migration of Other Asset, Liability, and Equity Accounts
        • Migration During a Financial Year
        • Trade Receivables & Payables
        • Our Data Migration Facilitations
        • Sales Invoice Migration
        • Vendors Invoice
  • FAQs
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  1. Quick Start
  2. Sell Module Guide
  3. Navigating the Sell Module
  4. Price List Management

Setting Up & Updating Prices

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Last updated 1 year ago

Accessing the Price List

  1. Locate the Price List: From the main dashboard of the TFX Biz-Flow Sell Module, find and click on the 'Price List' tab on the sidebar.

  2. View Current Pricing: Upon entry, you will be presented with a list of your products or services, along with their current prices, discounts, and other relevant details.

Setting Up and Updating Prices

  1. Initial Price Setup: When new products are added to the Product Master File, their selling prices are also established during the product creation process.

  2. Designated Authority: To ensure pricing integrity, only authorized personnel should have the ability to adjust prices. Assign this role within the User Permission Module.

  3. Price Updates: To modify a product's selling price:

    • Click on the "Update Price/Cost" button next to the relevant product.

    • Enter the new price in the designated field.

    • Submit the update for review and approval by the designated authority.

Updating Unit Costs

  1. Review Unit Costs: Within the Price List, each product's unit cost is also displayed, critical for understanding profit margins.

  2. Trading Companies: For businesses that purchase traded products, the application will automatically update the product costs based on the latest purchase data.

  3. Manufacturing Companies: If you are manufacturing products, update the unit cost manually to reflect production costs accurately.

Submitting and Approving Changes

  1. Submit Changes: After entering the new price or cost, submit the data for approval to ensure that all changes are reviewed and verified.

  2. Approval Process: Once the update is approved, the new pricing will automatically be updated across the Product and Inventory Modules.

Best Practices

  • Regular Review: Conduct regular reviews of your pricing to stay competitive and profitable.

  • Market Analysis: Align your pricing strategy with market research and customer feedback.

  • Transparent Communication: Notify your customers of any price changes, especially if you have long-standing contracts or agreements.

Efficient Price List management is essential for maintaining the financial health of your business. By following these steps within the TFX Biz-Flow Sell Module, you can ensure that your pricing strategies are both competitive and profitable, adapting swiftly to the changing dynamics of the marketplace.

Setting up/updating Prices
Approval Tab